M Floos
Kuraimi Jawal
About Alkuraimi Bank
<p>Al-Kuraimi Islamic Microfinance Bank (KIMB) is a for-profit Yemeni closed-shared Company providing financial services for all Yemenis'
(Exchange, Transfer, FINANCE And Savings). The bank was established based on the Microfinance
Law N.15 for the Year 2009, as a result of the transformation of Al- Kuraimi Exchange Company,
which was serving customers with 78 branches using the latest technology.</p>
ِAbout the bank
About us In June 2010, KIMB was licensed from Central Bank of Yemen(CBY). The main purpose is to reinforce the importance of playing a very active role in enhancing the country’s economic status in the field of savings and financing plus other financial services. The bank would accept all kinds of deposits and invest the deposits in so many fields in complete compliance with the Islamic Sharia'a. We have now more than 100 branch all over Yemen. Al Kuraimi Islamic Microfinance Bank has a vision that all financial and banking services are accessible by each person in Yemen, in order to participate in the economic and social development and in raising the standard of living of the individual and community at large by means of offering diverse financial services.
The Bank is an economic fortress with accumulated banking experience of more than forty years offering its services to all people in all governorates, towns and rular and urban districts, so much so that our services have covered extensive areas all the way from Socotra southerly to Saada northerly and from Al Mahara governorate westerly to Bab El Mandab Straits easterly.
We offer our financial and banking services with skill and professionalism without any narrow minded affiliation. We serve people and dedicate our relentless efforts to be of use and benefit to him/her. Despite the difficult circumstances the country is facing, we have trained our human cadres and developed and equipped our branches and offices with up to date technologies and equipments, in order to keep abreast of the best international practices in the field of banking and financial services.
Al Kuraimi Islamic Microfinance Bank is right beside you in times of prosperity as well as hardship, in the mountains, valleys, deserts, coastal areas and islands. Our aim is to offer a service of quality with high efficiency and effectiveness. We abide by and practice the values we have been brought up to respect as represented by compliance and obedience, honesty, clarity, transparency, philanthropy, social responsibility and wishing others welfare and well being, despite all difficult circumstances the country is passing through,.
We do not look backwards. We do not listen to those who call for destruction. We move, advance, improve and look forward to the future with hope and optimism, because our aim is noble which is serving people everywhere and every time to be right beside you.
Our Mission
KIMB’s mission is to “Contribute to economic and social development that will improve standards of living for people and continue having a distinguished and leading position in providing diverse Islamic financial services and innovative solutions, through focusing on clients’ needs and requirements from all segments of Yemeni society at home and abroad. Our services will be delivered via a model focusing on the quality of service to clients, using the latest available technologies and the development of cost-effective and professional mechanisms. By adapting to the latest developments and conditions, the Bank will continue to work in the most difficult circumstances with an aim to achieve strong returns for depositors and shareholders”.
Vision Statement
KIMB’s vision is “Account for every Yemeni household"
Goals
- Client-focus:
Placing the customer at the center of its attention, KIB will develop new products and refine existing products with an aim to offer a diversified and innovative suite of Islamic financial services (that comply with Islamic Shari’ah) for micro-entrepreneurs, SMEs and corporates with high quality and at the lowest costs. With a more client-centric focus, the bank will be able to scale up its financing portfolio significantly in the coming years and achieve a good return for depositors and shareholders.
- Distribution/mFloos:
Expand outreach to access all segments of Yemeni society at home and abroad, in every neighbourhood and village, and around the clock by adding and developing distribution channels for the bank’s financial services - including branches, but emphasizing agents, merchants and digital/mobile channels (e.g. mFloos). This will enable customers to access financial services in an easy, convenient, secure and affordable manner, and help the bank to more effectively scale up to reach large numbers of new customers (including the un- and under-banked segment).
- Professionalization:
Continue to invest in capacity building towards the development of a modern and sustainable Islamic bank that uses the best international practices and standards in its work and provides exemplary customer service. This can be accomplished by building a strong framework of updated and well documented systems, policies and procedures; developing a compliance, finance and risk system to accommodate a comprehensive array of banking services; and, focusing on talent management to create an agile team who believes in the vision, mission and values of the bank.
- Digitization:
Continue to innovate and digitize its operations in a way that adds strategic value to both the bank and its customers by making use of the best, most updated and appropriate technologies. This will enable the Bank to become more efficient internally, build strategic partnerships externally, and ultimately be able to offer products and services of superior quality to customers at a faster speed, greater convenience and a lower cost.
Values and Operational Principles
Allah said: (and say (O Muhammed PBUH) ‘’ Do deeds! Allah will see your deeds, and (so will) His Messenger\ and the believers. …..) At- Taubah 105 (The Repentance). Peace be Upon Him said: ‘’ if the final hour comes while you have a palm- cutting in your hands and it is possible to plant it before the hour comes, you should plant it. Instinctively, the human is focused on self-love and likes to be in control of everything around him/her. In the absence of religion and morals, s/he turned into a monster. So, religion and morals are the determinants of his/her behavior and attitudes. We in KIB base our value system in our Islamic religion and the morality which goes with the nature of the human being. As employees of KIB , we must understand these values and practice them in our daily duties in the bank:
Strategy-Statement
We will expand outreach to access all segments of Yemeni society at home and abroad, in every neighbourhood and village to enhance the financial inclusion. In addition to our branches and agents we will develop digital distribution channels for the bank’s financial services – including mFloos. This will enable customers to access financial services in an easy, convenient, secure and affordable manner to be right beside our clients.
By making use of the best, most updated and appropriate technologies, we will move our clients to digital services to add strategic value to them and ultimately be able to offer products and services of superior quality and cost effective.
We will place the customer at the center of our attention to know his/her needs and will develop new products with an aim to offer a diversified and innovative suite of Islamic financial services for micro-entrepreneurs, SMEs and corporates with high quality and at the lowest costs and achieve a good return for depositors and shareholders.
We will use the best international practices and standards and will build a strong framework of updated and well documented systems, policies and procedures; developing a compliance, finance and risk system to accommodate a comprehensive array of banking services to continue providing financial services in the most difficult circumstances.
We will focus on talent management and capacity building to create an agile team who believes in the vision, mission and values of the bank and provides exemplary customer services.
We will enable the Bank to become a pioneer in the banking sector, more efficient internally and build strategic partnerships externally to
reach 5 million client by 2023.
Board Members
The Board of Directors is composed of a group of members with expertise in different areas contribute significantly to the leadership of the bank's fixed-line progress towards success and achieve its objectives. The board members are:
- .Mr. Abdullah Abdu Mohammed Al- Kuraimi Chairman of the Board
- .Mr. Yousuf Abdu Mohammed Al- Kuraimi Vice president
- .Mr. Mohammed Abdu Mohammed Al- Kuraimi member
- .Mr. Radhwan Abdullah Abdu Al- Kuraimi member
- Mr. Mohammed Abdullah Abdu Al- Kuraimi member
Shariah Supervisory Board of the Bank:
